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A Bank Will Be Liable If It Charges a Customer

question 48

True/False

A bank will be liable if it charges a customer for a check that is postdated and the bank was given prior notice of the postdate.


Definitions:

Given Information

Any data, facts, instructions, or starting points provided as the basis for understanding or making decisions.

P(A / B)

A conditional probability representing the likelihood of event A occurring given that B has occurred.

Complement

The subset of outcomes in the universal set that are not in the specified event, often used in probability.

Mutually Exclusive

Events that cannot occur at the same time, implying no overlap between outcomes.

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